Leeward Investments LLC MA Trims Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Leeward Investments LLC MA reduced its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,583 shares of the financial services provider’s stock after selling 25,826 shares during the period. Leeward Investments LLC MA owned approximately 0.60% of First Interstate BancSystem worth $19,329,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FIBK. Global Retirement Partners LLC grew its position in First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 530 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in First Interstate BancSystem in the fourth quarter worth $39,000. CWM LLC grew its position in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 702 shares in the last quarter. Headlands Technologies LLC purchased a new position in First Interstate BancSystem in the third quarter worth $81,000. Finally, Signaturefd LLC grew its position in First Interstate BancSystem by 22.0% in the third quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 700 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FIBK shares. Stephens reiterated an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a research report on Thursday. Barclays upped their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday. TheStreet lowered shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Keefe, Bruyette & Woods upped their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Wells Fargo & Company upped their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.20.

First Interstate BancSystem Stock Performance

Shares of NASDAQ:FIBK opened at $27.00 on Friday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87. The company has a 50-day moving average price of $26.10 and a 200-day moving average price of $26.68. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. First Interstate BancSystem, Inc. has a 12 month low of $20.81 and a 12 month high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $252.30 million during the quarter, compared to the consensus estimate of $254.50 million. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. As a group, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.17 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.96%. The ex-dividend date is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio (DPR) is 74.90%.

Insider Activity

In related news, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the transaction, the executive vice president now directly owns 9,047 shares of the company’s stock, valued at $233,684.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the transaction, the insider now directly owns 6,909 shares of the company’s stock, valued at $179,979.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the transaction, the executive vice president now directly owns 9,047 shares of the company’s stock, valued at $233,684.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,531 shares of company stock valued at $197,645. Insiders own 6.90% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.